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Legal notice received against Section 25 Payment & settlement Act
17-Oct-2023 (In Criminal Law)
Hi .. I have received one Legal notice from the lower against the section 25 Payment & settlement ACT . There is loan amount of INR 30k which i have taken from Loan app but due to my Job i am not able to pay the same and the loan app filed case against my Name. I have checked the case status on E court app and same is genuine. I have not received any summons but Loan app person told me that a bailable warrant has issued against my name and he also shared the copy for the same. Please Help.
Dear Client, I'm in that case. I would like to examine that notice whatever is mentioned in the said Notice as per that I'll pursue about case so when you have sufficient time drop the details else no one help without examintion of fact.
Helpful?
Adv. Anurag Bhatt
Allahabad | 500+ Answers
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What is a complaint under section 25?
Insufficient funds, etc. in the account. (d) The person initiating an electronic funds transfer does not pay the money to the beneficiary in 15 days after receiving the notice. 25-Mar-2020
What is Section 25 notice for loan?
A. Dear Client. The section 25 of the Act clearly states that the payee, before filing a complaint under said Act to recover money, must inform the payer via a written notification seeking payment of the dishonoured amount or the payer may be punished.
What is the punishment under Section 25 of the payment and settlement Act?
Section 25 of Payment and Settlement Act 2007, states that if an electronic transfer cannot be completed due to insufficient money or if an amount is required to be paid out exceeds the limit on the credit card of the payer, the payer can be imprisoned or fined twice the amount.
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